The product that most deserves to be introduced into the market is the self charging battery. There have been several variations or attempts on producing such a device, but none have quite made the jump into common everyday purchases made by consumers. The setbacks have been price, desire and practicality. Many people will not pay $20.00 for a battery to stick into a five dollar product. Rechargeable batteries have had a little more success, although those too get lost, cost more and cost money to recharge. Manufacturers do not want to go out of business so development of this type of product has not found adequate funding. Many too are not practical. Like the solar powered self charging battery being used in some cell phones. Nice idea, but impractical as one may be in a call and lose their charge for their phone. Now instead of putting in another battery or plugging into the nearest wall socket (which either may not be available), you simply need to take it out and let it charge under the sun…for 30 minutes to make your next call. There are several features that this outline will demonstrate the superior performance, durability and quality of these batteries in a very competitive market. The self charging battery we will offer requires no electrical outlet for recharging, it sounds an alarm when low to start the recharging cycle and it is designed to replace all standard battery types at an economical cost.
I. Market analysis
A. The consumer spending on batteries (the battery market) is about $50 billion in the U.S. alone, of which roughly $5.5 billion is allocated to rechargeable (secondary) batteries. The growth is estimated at 6% annually. (Bozzo, 2008)
1. Alkaline batteries are the primary battery market leaders. Others industry leaders will be lithium and zinc-air. Alkaline batteries can be stored up to 10 years and have a larger consumer base than
References: Edwards, J (2008). Marketing planning and strategy. Retrieved July 15, 2008, from Knowthis.com Web site: http://www.knowthis.com/tutorials/principles-of-marketing/marketing-planning-and-strategy/12.htm No author, (2008). Don 't confuse sales support with marketing: a case for buyer persona profiling. Retrieved July 13, 2008, from Pragmatic Marketing.com Web site: http://www.pragmaticmarketing.com/publications/magazine/3/4/0508ar Penton Media, (2006, Oct 1). China to overtake united states in battery market. Retrieved July 17, 2008, from Power Electronics Technology Web site: http://powerelectronics.com/portable_power_management/batteries/power_china_overtake_united/ Bozzo, A (2008 18 Apr ). ZPower recharges pc battery market. Retrieved July 18, 2008, from CNBC Web site: http://www.cnbc.com/id/24065023 Shanthi, K (2003 24 Jun ). A tale of two batteries - Primary and Secondary Alkaline Battery. Retrieved July 18, 2008, from Frost & Sullivan Web site: http://powersupplies.frost.com/prod/servlet/market-insight-top.pag?docid=3854295&ctxixpLink=FcmCtx5&ctxixpLabel=FcmCtx6 [pic][pic]